The Cost of Exports

My latest at The Hill can be found here.  A snippet:

For example, let’s suppose that you grow corn and that your neighbor grows wheat.  In order for you to get some of your neighbor’s wheat, you will have to give them some of your corn.  In other words, your farm will have to export corn so that your farm can import wheat.  In this context, we readily understand that the corn given up isn’t a benefit from the exchange, but is instead the cost of the wheat.  The same is true when we talk about trade between countries. When we export goods or services to other countries, we receive imports in return. Exports are the cost and imports are the benefit.

If Mr. Trump and Secretary Clinton are going to continue parading such economic ignorance as knowledge, I encourage them to voluntarily overpay at the grocery store.  If what you give up to get something is truly a benefit, then doing so would surely be a path towards making their households even wealthier than they already are.

Free Choice, Not Free College

My latest, with, on the need for reform in how we subsidize education

If the federal government is going to subsidize education, individuals would be better served by creating a tax voucher system that allows people to choose from a wide-range of post-secondary education and training options. A tax voucher system would provide equal benefits for any type of post-secondary job-training program and give people the choice of what program, rather than assume that college is the appropriate choice for every individual.

The full article can be found online, here.